Prodigy Gold NL (ASX: PRX) exploration narrative is gaining traction with the completion of co-funded diamond drilling and the receipt of final data from a ground gravity survey. Below are the highlighted points from the exploration update:

Key Highlights:

  • Receipt of final data from the ground gravity survey, encompassing 1,233 new gravity stations over the Tanami North project area. The data is currently under meticulous review by independent geophysical consultants to discern new exploration avenues within the project area.
  • The forthcoming downhole geophysical survey on Tregony diamond hole is slated to provide pivotal insights into the structural analysis of the deposit.

Prodigy Gold acknowledges the successful completion of diamond drill hole TGRD2301 within the Tregony deposit, a collaborative effort co-funded by the NT government through Round-16 Exploration Territory grants. The drill hole, which extends to a depth of 350 metres, has undergone geological evaluation and sampling, with the acquired samples dispatched for geochemical analysis. The results from this analysis are eagerly anticipated this November. Further, a downhole wireline survey of the hole is on the horizon in the upcoming weeks, expected to spotlight additional geological structures. This endeavor aims to amalgamate the findings from the diamond core logging and analytical geochemistry, thus enriching the understanding of the Tregony deposit.

The Tregony deposit, a vital part of the Tanami North Project in the Northern Territory, stands in proximity to notable mineralized deposits like the 1.1Moz Groundrush deposit and the 94Koz Crusade deposit. Tregony, along with Hyperion, remains a cornerstone in Prodigy Gold’s project portfolio, steering the current exploration actions.

Prodigy Gold Managing Director, Mark Edwards, voiced his satisfaction stating:

We are pleased to advise of the significant progress made on the Tanami North Project through the successful completion of two projects supported by the NT Resourcing the Territory co-funded grants that were announced in the Prodigy Gold office in May this year. The comprehensive regional gravity survey significantly strengthens the geophysical coverage and data resolution across the project area, offering valuable geological insights and uncovering features that were not previously apparent. This enhanced resolution will better allow the Company to pinpoint targets for future drilling, increasing the efficiency and effectiveness of exploration activities in and around the strategically significant Tanami North Project.

These findings may also lead to the identification of new exploration prospects in areas below unmineralised cover sequences. The sampling of the diamond drill hole at Tregony has been completed and samples have been forwarded to the laboratory. Prodigy Gold is in the early stages of evaluating the gravity data in conjunction with the drilling outcomes, geological mapping, and sampling. This comprehensive analysis of data will enable the Company to potentially identify new exploration targets for the upcoming 2024 field season.

Project location in the Tanami Region (source: Prodigy Gold)

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